How to Check Rajputana Stainless IPO Allotment Status

Incorporated in 1991, Rajputana Stainless Limited is engaged in manufacturing long and flat stainless-steel products.

The company offers a range of stainless steel products, including billets, forging ingots, rolled black and bright bars, flat & patti, and other ancillary products, in over 80 diverse grades. The company primarily sells its products domestically through direct sales and traders, while also exporting to five countries: UAE, USA, Turkey, Kuwait, and Poland.

The company uses its expertise and infrastructure to supply raw materials for various industries, including seamless pipes, aerospace, forging, oil and gas, defence, automotive, aviation, and precision engineering. Its product portfolio spans Billets (semi-finished products made from liquid steel, used as optimal inputs for hot working processes such as forging, rolling, and ring rolling), Cast Ingots (metal masses poured into moulds for easy storage, transportation, and further processing, used in open die forgings, re-rolling, and ring rolling), and Hexagonal Bars (stainless steel rolled into hexagonal shapes, used in manufacturing nuts, valves, hose ends, fasteners, and hex bolts).

The company operates a manufacturing facility of 35,196.98 sq.m. in Kalol, Gujarat, equipped with an induction furnace, AOD, CCM, heat treatment facilities, rolling mill, and bright bar shop. As of September 30, 2025, the company had 408 permanent employees and workers comprising skilled and unskilled workers.

Rajputana Stainless IPO is a book build issue of ₹254.98 crore, comprising a fresh issue of 1.47 crore shares aggregating to ₹178.73 crore and an offer for sale of 0.63 crore shares aggregating to ₹76.25 crore. The IPO opened on March 9, 2026, and closed on March 11, 2026. The allotment is expected on Thursday, March 12, 2026. The share price band was set at ₹116 to ₹122 per share.

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Steps to Check Rajputana Stainless IPO Allotment Status on Registrar Site

• Visit the BSE IPO Allotment Status Page Kfin Technologies Ltd 
• Select "Rajputana Stainless" from the dropdown menu on the allotment status page
• Enter your PAN ID, Demat Account Number, or Application Number in the designated field
• Complete the captcha verification process and click on the "Submit" button to view your allotment status

Steps to Check Rajputana Stainless IPO Allotment Status on BSE/NSE

• Navigate to the BSE IPO Allotment Status Page, NSE IPO Allotment Status Page
• Select the issue type: equity/debt
• Choose "Rajputana Stainless" from the list of active IPOs in the dropdown menu
• Input your Application Number and PAN ID in the required fields
• Verify the captcha and click "Search" to check your allotment status

Rajputana Stainless IPO Subscription Status

Rajputana Stainless IPO subscribed 1.12 times overall. Here is the category-wise breakdown as of 4:44:34 PM on March 11, 2026:

• QIB Category (Ex Anchor): 2.51 times
• Non-Institutional Investors (NII): 2.59 times
• Retail Investors: 0.27 times

Rajputana Stainless IPO Share Price and Investment Details

The minimum investment required was ₹13,420 for 1 lot (110 shares). Given the overall subscription of 1.12 times with solid institutional interest at 2.51 times, strong NII participation at 2.59 times, and weak retail subscription at 0.27 times, the share price listing expectations remain cautious. Investors may note that the anchor investor for this IPO has withdrawn, as informed via BSE Notice No. 20260306-21 dated March 6, 2026.

Utilisation of IPO Proceeds

The proceeds will be utilised for funding capital expenditure requirements for setting up of a manufacturing facility for Stainless Steel Seamless Pipes to expand the product portfolio (₹18.57 crore), full or part repayment and/or prepayment of certain outstanding secured borrowings availed by the Company (₹98.00 crore), and general corporate purposes.

Business Overview

Rajputana Stainless Limited is engaged in the manufacturing of various types of stainless-steel products meeting varied use. The company marked degrowth in its top lines but posted growth in bottom lines for the reported periods. The company is operating in a highly competitive and fragmented segment.

The company demonstrated financial performance with total income of ₹937.49 crore for FY2025 and a net worth of ₹176.65 crore as of September 30, 2025. The company benefits from an established, integrated manufacturing setup at a strategic location, a diverse product portfolio, an established customer base and strong relationships, strong promoters and experienced management team, and a track record of healthy growth. However, investors should note the post-issue P/E ratio of 20.88 and Price to Book Value of 5.53.